Traton Sees Opportunity in Electric Vehicles
October 02 2019 - 4:58AM
Dow Jones News
By Carlo Martuscelli
Traton Group, the commercial vehicle arm of Volkswagen AG
(VOW.XE), said it aims to invest over 1 billion euros by 2025 into
research in electric mobility.
The Scania-brand owner said it sees growing demand for
electric-powered commercial vehicles.
"In the midterm, we expect that the total cost of ownership of
battery-powered commercial trucks used in distribution services and
city buses will be comparable with vehicles powered by fossil
fuels," said Andreas Renschler, chief executive of Traton SE.
The company said that it has already secured orders for electric
trucks from Brazilian beverage producer Ambev, and that later in
the year it will put an electric bus in operation in Stockholm.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
October 02, 2019 04:43 ET (08:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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